money, doesn't have any poor people. we have 40... more than 45 million people living... living in poverty in the united states. >> reporter: and he says it takes much more than financing to help them break out of it-- business counseling, keeping the books, paying bills, even opening savings accounts, which is required of borrowers. even that is often not enough. joe selvaggio, a former catholic priest who's worked for decades with poor people, says many would-be entrepreneurs fail because their finances are precarious. >> the car got impounded, or they got sick, or their kids got sick, or the landlord... and one time, we gave a check to somebody and she put it in the bank, and they took up almost the whole $1,000 in bank overdraft charges. >> reporter: selvaggio runs microgrants, a minnesota nonprofit that works alongside those that provide micro loans. but he says new entrepreneurs often need something more to get them over the hump, so he gives them grants of $1,000.